(ft.com) - Bruce Cleaver is not your typical miner — a former partner at one of South Africa’s top law firms, the tall and cerebral CEO of De Beers is more at home discussing strategy in the boardroom than assessing operations at a mine. “He hasn’t got acres of dirt under his fingernails,” one banker says. But as the diamond industry faces multiple challenges, from an uncertain global economy to the growth in popularity of diamonds that can be made in a laboratory for a fraction of the cost of digging them up, strategy may be just what is needed.
News
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Today
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Botswana and a consortium leading the race to acquire De Beers are close to agreeing on their future ownership stakes, potentially clearing the way for Anglo American to exit the diamond miner, according to Bloomberg.
Yesterday
Petra Diamonds subsidiary ordered to wind up over unpaid tax
Petra Diamonds has confirmed that a winding-up order has been made against its wholly owned indirect subsidiary, Petra Diamonds UK Treasury Limited (PDUK Treasury), following a petition by HM Revenue & Customs.
Yesterday
LVMH’s watches & jewellery division revenue rose 8% in the first nine months of 2026
The Watches & Jewellery division of the French conglomerate LVMH, home to over 75 world-renowned luxury brands, recorded an 8% organic revenue growth during the first nine months of 2026 thanks to strong jewellery demand, despite a challenging economic...
Yesterday
Russian companies to increase investment in PGM exploration by 17% in 2026
In 2026, Russian companies will increase their investment in the exploration of platinum group metals (PGM) by 17%, with the total reaching nearly 2 billion rubles ($23 million), the Russian Ministry of Natural Resources and Environment...
Yesterday
